GREAT DEPRESSION GOLD RUSH:
SURVIVING THE GREAT DEPRESSION BY MINING GOLD!
The great depression of the 1930’s came along following the stock market crash on wall street in New York. The lack of jobs that followed would create the fourth gold rush in America’s history, and the second of the 20th century.
The great depression affected cities all over the world. America was a highly industrialized country with skilled and willing workers, as well as industrious families. The country had fertile farm lands, an efficient and extensive transportation system and the best communication system in the world. The United States of America in 1930 lacked only one thing: an adequate supply of money to carry on trade and commerce. Banks were the only source of new money and credit, but deliberately refused loans to industries, stores and farms. Payments on existing loans were required however, and money rapidly disappeared from circulation. Goods were available to be purchased, jobs waiting to be done, but the lack of money brought the nation to a standstill. Homes and businesses were being lost to foreclosure, but families had to be fed and housed. There were no jobs, and prospecting for placer gold had practically no operating costs. The gold at that time had to be sold to the U.S. Treasury by law, and the treasury had no choice but to buy it. That was the only source of money that remained available to the working man during those times. It was hard work, but the only income that was completely under his control.
The great depression affected cities all over the world. America was a highly industrialized country with skilled and willing workers, as well as industrious families. The country had fertile farm lands, an efficient and extensive transportation system and the best communication system in the world. The United States of America in 1930 lacked only one thing: an adequate supply of money to carry on trade and commerce. Banks were the only source of new money and credit, but deliberately refused loans to industries, stores and farms. Payments on existing loans were required however, and money rapidly disappeared from circulation. Goods were available to be purchased, jobs waiting to be done, but the lack of money brought the nation to a standstill. Homes and businesses were being lost to foreclosure, but families had to be fed and housed. There were no jobs, and prospecting for placer gold had practically no operating costs. The gold at that time had to be sold to the U.S. Treasury by law, and the treasury had no choice but to buy it. That was the only source of money that remained available to the working man during those times. It was hard work, but the only income that was completely under his control.
When the United States entered into the WWII conflict, jobs became available again to support the war effort. Placer mining for a living again came basically to a halt, as the jobs became available.
The locations by county and state, as well as the amount of gold produced in each location of the United States is available in “THE GREAT AMERICAN GOLD RUSHES” , Volume I in “THE GREAT AMERICAN SERIES” of e-books on gold.